Aragon Properties has moved forward with plans to build a 327-unit apartment complex in Echo Park.
The Vancouver-based developer led by Lenny Moy was approved by the Los Angeles City Planning Commission to build the seven-story complex at 1185 West Sunset Boulevard, The Registry reported.
The move comes more than a decade after Aragon initially proposed building homes on a vacant lot at Sunset and Everett Street.
In August, Aragon had filed revised plans to add 123 more units to the complex, dubbed Sunset + Everett.
The project includes two seven-story buildings with 327 studio, one-, two- and three-bedroom apartments atop 9,500 square feet of ground-floor shops and restaurants, plus parking for 263 cars.
Aragon employed density bonus incentives to allow a taller building than allowed by zoning rules in exchange for 41 affordable apartments for very low-income households.
The larger stakes were possible because of a bigger density bonus than was available years ago when the original plans were filed.
The project, redesigned by Downtown L.A.-based KTGY on a long slender lot, includes white stucco and fiber cement panels surrounding floor-to-ceiling windows and inset balconies and terrace decks, according to a rendering. It would include a fitness room, community room and lounge.
Aragon could break ground by the end of the year, and complete the project by summer 2027, according to its environmental study.
Across the street, Santa Monica-based Palisades Capital Partners has secured approval to build three towers with more than 700 apartments and a 180-room hotel on the site of the former headquarters of the Metropolitan Water District at 1111 West Sunset Boulevard. The project is on the market for an undisclosed price.
Also, Brentwood-based Cypress Equity Investments was cleared to build a 176-unit apartment complex at 2225 West Sunset Boulevard at Alvarado Street.
Aragon Properties, founded in 1988 by Moy, has developed apartment complexes from British Columbia and Ontario, Canada to Los Angeles, according to its website. The firm just opened Park & Vista, a seven-story apartment complex at 200-215 Toluca Street in Echo Park.
— Dana Bartholomew
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